The answer is not complete, Please explain the answer clearly

The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 59,000 319,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 54,500 40,000 104,500 94,500 84,500 a-1. Determine the maximum loss that can be absorbed in Step 1. Then, assuming that this loss has been incurred, determine the next maximum loss that can be absorbed in Step 2. a-2. Liquidation expenses are estimated to be $19,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $97,000 are sold for $71,500. How is the available cash to be divided? Answer is not complete. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Reg B Liquidation expenses are estimated to be $19,000. Prepare a predistribution schedule to guide the distribution of cas Further, modify the tags in explanation as well. First Next DRYSDALE, KOUFAX, AND MARICHAL Distribution of Available Cash $ 73,500 Liabilities $ 54,500 Liquidation expenses 19,000 21,500 Marichal 100 13,000 Koufax 60 Marichal 40 Koufax 30 Marichal 20 Drysdale 50 Next % % % All remaining cash % % % Req A1 Req A2 Req B Assume that assets costing $97,000 are sold for $71,500. How is the available cash to be divided? Cash available for distribution: Beginning cash balance Sale of noncash assets Subtotal Payment of liabilities Payment of estimated liquidation expenses Cash available for distribution $ 59,000 71,500 $130,500 (54,500) (19,000) $ 57,000 Koufax $ 0 Cash distribution to partners: Drysdale First $ 0 Next 0 Next Total 0 Marichal $ 21,500 5,200 Total $ 21,500 13,000 $ 7,800 $ $ 7,800 $ 26,700 $ 34,500